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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (1958)	3/13/2004 8:31:28 PM
From: yard_man	Respond to of 116555

good post, except I would submit that housing bubble IS inflation, from the standpoint of the Austrians -- it is a direct expansion of purchasing power, even if it hasn't affected some aggregate measure of prices ... re CEF being a bubble ... how bout the Australian ETF -- is there another one?? Do they trade at premiums?? Coins are not as fungible as some think -- they trade with quite a spread and the spread goes up with the POG / POS. You can avoid a lot of the spread if you just trade on the comex, but that requires a certain level of capital and sophistication which many investors don't have -- I think the premia CEF, ETFs has to do with convenience and an inability to conveniently arbitrage. Suppose instead a vehicle that were more like a claim -- you could actually liquidate by selling shares or receiving the underlying bullion -- course that would be akin to a future, except for the expiry part. Has anyone tracked the premium in CEF vs moves in gold for a forward indicator ... Like you I see these paper substitutes as poor subs for futures and/or holding the metal. If I buy gold in increments of less than $10k USD ...